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Demand for electric car rentals unplugged by range anxiety

It's the hurdle that electric vehicles must clear to be launched into the mainstream: range anxiety. But this time it isn't prospective customers who worry about running out of juice, Bloomberg reports, but renters who return to car rental agencies before their lease is up and trade their EVs in for more traditional gasoline-powered autos and gas-electric hybrids.
"People are very keen to try [electric vehicles], but they will switch out of the contract part way through ... they think they can't get to a charging station," says Lee Broughton, head of sustainability at Enterprise. Enterprise customers who rent EVs reportedly trade them in 1.6 days into the rental period on average, which compares unfavorably to the six- to seven-day rental periods of traditional, fuel-burning automobiles.
Christopher Agnew, an analyst at MKM Holdings LLC, says that longer range would help rental customers' range anxiety, especially since they are usually renting vehicles in unfamiliar places.

Nissan, Fisker in advanced talks on investment, partnership

Nissan is in advanced talks to invest in electric vehicle maker Fisker in a deal that could provide the Japanese automaker with access to an electric pickup truck while giving the struggling startup a financial lifeline, according to two people familiar with the negotiations. The deal could close this month, said the sources, who asked not to be identified because the talks are ongoing and have not been finalized. Terms being discussed include Nissan investing more than $400 million in Fisker's truck platform and building Fisker's planned Alaska pickup starting in 2026 at one of its U.S. assembly plants, one of the sources said. Nissan would build its own electric pickup on the same platform, the source said. Nissan has U.S. assembly plants in Mississippi and Tennessee. Fisker said on Thursday, when it announced it might not be able to continue as a going concern and would cut 15% of its workforce, that it was in talks with a large automaker for a potential investment and joint development partnership. It did not name the automaker. A Fisker spokesman said the company does not comment on speculation, while Nissan officials were not immediately available to comment. Fisker shares had been down about 45% before the Reuters report but pared those losses and were trading down about 25% with a market capitalization of more than $295 million. The term sheet is ready and the deal is going through due diligence, one of the sources said. Nissan was an EV pioneer with its fully battery powered Leaf hatchback in 2010 but has since struggled in the face of nimbler new entrants. A deal with Fisker would help it move into the growing U.S. electric pickup market. Nissan's talks with Fisker comes in the wake of the former's “rebalanced” relationship with its long-time alliance partner Renault. Last year, Nissan and Renault finalised terms of a restructured alliance after months of negotiations. They aim to have cross-shareholdings of 15% as part of the deal. The more limited alliance removes certain restrictions and has opened the door for Nissan to develop growth plans in areas such as EVs and software independent of Renault, said one of the sources, who is familiar with Nissan's thinking. The Yokohama-headquartered automaker is scouring “many, many opportunities,” the person said.

Weekly Recap: Ferrari, Ford and Porsche power up for Geneva

Monday was Groundhog Day. Tuesday, apparently, was Sports Car Day. The Ferrari 488 GTB, the Ford Focus RS and the Porsche Cayman GT4 all debuted within hours of each other ahead of their rollouts at the Geneva Motor Show. Three sporty machines, three vastly different approaches – and a lot of implications for enthusiasts. That's a day worth repeating. It also illustrates the opportunities automakers see in the performance market, which is expected to grow in the coming years. Ford estimates the segment has expanded 14 percent in Europe and surged 70 percent in North America since 2009. The Detroit Auto Show was evidence of this, and performance cars of every stripe debuted, including the Acura NSX, Ford GT, Alfa Romeo 4C Spider and several others. This isn't a fad. Performance cars aren't going away. The question is why? Stricter CAFE standards are looming in the United States, as are tighter emissions regulations in Europe. And no one expects gas prices to remain low in America. None of this matters for sports cars, and automakers are increasingly using them to elevate their images. That's why Dodge rolled out two 707-horsepower Hellcats last year. It's why Ford has decided to resurrect the GT for road and track. It's why in the depths of bankruptcy, General Motors continued work on the Chevrolet Corvette Stingray, not to mention the Z06. "Great brands are made one car at a time," Ford of Europe president Jim Farley said at the reveal of the Focus RS. Still, companies make those cars for different reasons. View 5 Photos Mainstream brands like Ford and Dodge want to build cars that get people talking, excite their bases and drive more potential customers into the showroom. They probably don't buy a Focus RS or a Hellcat, but suddenly the regular Focus hatch looks a bit hotter, and that V6 Charger seems to be just a touch more muscular. The halo of performance is alive and well in the eyes of automakers and their customers. "It's one of the most effective catalysts for ingenuity and innovation," said Joe Bakaj, vice president of product development for Ford of Europe. That also leads to a trickle-down effect. Some of the technologies inevitably make their way to other products. It's hard to think the new all-wheel-drive system in the Focus RS that distributes torque front to rear and side to side won't be used in other vehicles. It's different for Ferrari and Porsche.